Author Topic: Easy steps on how to venture into gas filling station business  (Read 103 times)

kokane

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Venturing into a gas filling station business is one of the most profitable and lucrative business. The oil and gas industry is the key sector of any economy, most of other industries depend on the output of oil and gas industry. Today in most countries a lot of rich people are really venturing into the oil and gas sector. Let us now look at the definition of a gas filling station.
A gas filling station can be seen as a place or an environment where petroleum products such as AGO (Automated Gasoline Oil or Diesel), DPK (Dual Purpose Kerosene), PMS (Premium Motor Spirit or Petrol), Lubricants, etc are purchase by consumers on a retailed level.
Benefit of starting a gas filling station
1.   Gas filling station business is a tangible investment and asset.
2.   Another benefit of starting a gas filling station business is that gas filling station business is a profitable business with good profits margin.
3.   Another benefit is that the business does not require so much marketing.
4.   Another benefit is that the income that comes in the business is certain because the products are used on a daily basis by consumers.
 
Let us now look at the things you need to consider before venturing into a gas filling station business. The following are what you really need to consider.
1.   You need to get yourself ready and prepare: The following are areas you need to prepare yourself:
   You need to prepare yourself mentally
   You need to prepare yourself physically
   You need to prepare yourself financially
One of the major reasons why I am saying all these is because the petroleum industry requires high capital and it is a business that is risky.
2.   Carrying out a proper research about the business: Before thinking on how to venture into the gas filling station business it is good to conduct feasibility study about the business.Conducting a proper research will really go a long way in helping you to avoid some mistake and also it determines the success of the business.
3.   Drafting out a business plan: Drafting out a business plan for the business is very important. This particular document will really help you in the area of providing a proof to your investors and bankers that you have really done your homework.
4.   Making provision for capital for the business: This area is another important area. You can either choose to finance the business yourself or get a loan from the bank, more still from private investors.
5.   Getting a good secure location for the gas station: In gas filling station business location determine the success of the business. In getting a location there are things you need to take into consideration. The following are what you need to consider in securing a location for the business.
   The location must be a commercial area
   The location must have a high vehicle traffic
   The location must be an industrial area
The following are really what you need to consider before securing a location for the business.
6.   You need to incorporate the company name: Before you thing of setting up the business you need to incorporate the company name for you to be able to get a license and permits to run the business.
7.   You need to secure the necessary license and permit to run the business: The oil and gas industry is been regulated by a body. You need to really secure all the necessary license and permit to run the business. It is advisable to seek the advice of an oil and gas consultant to help you.

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